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Thursday, March 19, 2015

REVIVE: MORE MANHATTANVILLE UP FOR DEVELOPMENT

There are now reports that the old storage hangar at 129th Street just east of Amsterdam Avenue is up for sale as a possible condo development. An article on Curbed NY mentions the value of the land will be set at $40 million and notes the dramatic increase in luxury housing in Manhattanville. As far as we can see, there might have been a handful of small developments in the factory district over the past 5 years but that remarkable increase in cost of living is based off of having zero new inventory at all in this part of West Harlem for the past half century. Massive housing projects are just around the corner and the parcel faces a bus terminal so that might adjust the final selling price. More on Curbed NY: LINK